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Events
SMTrack expands into Mongolia's events market www.klsescreener.com
SMTrack Bhd has teamed up with Mongolia-based Madyna Global LLC to buy a company that operates one of the largest rooftop event venues in Mongolia.
SMTrack today said it had signed a joint venture agreement with Madyna Global to establish a special purpose vehicle (SPV) for the acquisition of Gold Moon DTT LLC.
Gold Moon operates Z Terra Event Hall in Ulaanbaatar, one of the largest rooftop event venues in Mongolia, and is involved in food and beverage, hospitality and event management.
SMTrack will hold a 90 per cent stake in the SPV, with Madyna the remaining 10 per cent.
"Madyna and Gold Moon had in principle agreed that the joint venture shall be by way of Madyna acquiring 60 per cent equity in Gold Moon," it said.
The SPV will take over Madyna's rights under a memorandum of agreement and negotiate the acquisition of Gold Moon, which owns the Z Terra brand and operates Z Terra Event Hall.
Madyna, incorporated in Mongolia in 2009, is primarily involved in business consultancy and foreign trading, with extensions into food and beverage-related activities.
Gold Moon is a privately held hospitality and event management company focusing on corporate, social and lifestyle events.
Under the joint venture agreement, Madyna will lead the acquisition process, including negotiations, due diligence, valuation and regulatory approvals.
SMTrack will provide administrative, financial and technical support where required.
The deal is subject to conditions precedent, including satisfactory due diligence and an independent valuation of Gold Moon.
These conditions must be met within six months, with a possible three-month extension.
If the conditions are not fulfilled within the stipulated timeframe, the agreement will lapse unless otherwise mutually extended or waived.
"The proposed joint venture provides an opportunity for the SMTrack group to increase its revenue base and improve its financial position by expanding its food & beverage related business via the acquisition of Gold Moon DTT," it said.
SMTrack said the joint venture is expected to improve the company's future earnings prospects.
Published Date:2026-04-13
